Category Archives: Money Laundering

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What to Do if You’re Accused of Money Laundering in Scotland

It can be very intimidating to be faced with an accusation that you or your company are or have been involved in money laundering. When it comes to the specific crime of money laundering, in Scotland the court can impose imprisonment, confiscation, or a fine on the convicted individual, or both, and the amounts or lengths of time involved can be significant. So in the event an accusation is levelled against you, it’s important for you to move quickly. Here are some of the key steps that need to be taken.

Get Yourself Specialist Counsel

If you are accused of money laundering or concealing the proceeds of crime, Scotland law can seem very complicated and opaque, even to someone who works in the financial sector or who is knowledgeable in accounting. This is why it is important to find lawyers who have a wide range of experience, not just in Scottish law, in general, but also in money laundering regulations in particular. Specialist lawyers won’t just know what money laundering is or what the penalty for proceeds of crime concealment can be, they will also know the best and most appropriate way in which to defend your case.

Set Up Your Defence Team and Strategy

One of the benefits of having specialist counsel, such as Kinloch and Co., is that their lawyers will help you to gather experts who will be vital in preparing your defence. For example, you may need forensic accountants to go over your company’s financial records, in order to prove that the funds in question actually came from legitimate sources. Kinloch & Co. won’t just bring in highly qualified forensic accountants, but they will also find those experts who have experience testifying in money laundering cases, and who are capable of presenting their findings in convincing and effective ways.

Move Quickly and Take Initiative

Throughout this process, from its very inception when you were accused until the final ruling is handed down, it will always be crucial to move quickly. This is why, once an accusation regarding money laundering comes to your attention, you already need to get on the phone and call someone like David Kinloch. If you hesitate, you lose valuable time. Keep in mind that the parties making the accusation against have all the resources that the State can muster to win their case. That means significant resources and many legal professionals that they are able to throw into the case to get you convicted and to make sure you lose that money or property.

Remember that the penalty for money laundering is severe, and so you need to get your team in place and moving as quickly as possible. So make the call immediately, go in for an appointment, and discuss the details of your case with your counsel. Have any relevant company or financial documentation on hand right away, so that you can present the relevant records to your lawyers. Also, make note of any knowledge you or your staff may possess, which could be important to your situation. You need to take the initiative because, as with most litigation, the person who snoozes loses.